Cowboys free agents: Anthony Spencer

Calvin Watkins covers the Houston Rockets and the NBA for ESPN.com. He joined ESPNDallas.com in September 2009. He's covered the Dallas Cowboys and Texas Rangers as well as colleges, boxing and high school sports.

Summary: Spencer had his best year as a pro in 2012. He established career highs in sacks (11) and total tackles (55) and increased his stock not only around Valley Ranch, but across the NFL. Spencer was franchised last season and the Cowboys have the option of doing that again. The tag would cost the team $10.8 million. Is Spencer worth it? He was the Cowboys second-best pass rusher next to DeMarcus Ware, and at times might have been the best pass rusher due to Ware's injuries.

Why keep him: He will move to defensive end, a position he hasn't played full-time since college, but it's not a big deal because the Cowboys used a four-man front a good percentage of the time. He is the team's second-best pass rusher, and new defensive coordinator Monte Kiffin wants pass rushers along his defensive line.

Why let him go: The money. Cowboys should spend their free agent money elsewhere, perhaps at defensive tackle. They also need to extend the contract of quarterback Tony Romo.

Best guess: Spencer becomes too rich for the Cowboys. He's going to command roughly $8-10 million on the free agent market.